Business

Firm Wants Enhanced PIA Impact On Oil, Gas

Published

3 years ago

May 15, 2023

Tetracore Energy Limited, an integrated energy company, has urged the Federal Government to back Nigeria’s Petroleum Industry Act (PIA) with actions capable of enhancing its impact on the oil and gas industry.
The Manager, Downstream Gas & Virtual Pipeline Solution, Tetracore Energy Limited, Emmanuel Udoh, said the enactment of the PIA is not enough to drive investment and growth in the industry.
Speaking to newsmen in an interview at the just-concluded 2023 Nigeria International Energy Summit, in Abuja, Udoh said: “PIA is not enough. There is work that must be done.
“For instance, we don’t really have clarity around PIA stands on Non-Associated Gas (NAG) Asset development. And that’s also creating some sort of concerns within the industry players”.
Udoh emphasized on the need for the government to formulate policies that will enable homogenous innovation and further transfer of technology from the International Oil Companies (IOCs) operating in the country, to indigenous players.
According to him, this will help to reduce reliance on imported technologies, and prevent capital flight.
He said: “Starting off on the Decade of Gas, have we done well? Well, that’s relative. But can we do more? Yes! The potential is there. I mean, we have the resources, we have the human capacity; and the only challenge will be around technology and funding.
“In terms of technology, I think there has to be some sort of policies put in place to enable homogenous innovative technologies inventions and further transfer of already existing technology from most of the IOCs to the local players – that’s the indigenous players; so that we begin to reduce the level of our offshore reliance on technology.
Of course, when that happens, there’s no capital flight anymore, more capital would be retained in-country which, of course, you know has other multiplier effects.
“So, localizing the technology side of things is very critical and that’s why we have begun to see local companies – indigenous companies go into building highly robust Gas solutions.
“We have companies that are already assembling Gas leak detection systems, Gas skids, PRMS – that’s Pressure Reducing and Metering Station, to support some of the Gas industrialization initiatives that we have in the domestic market today.

“We have started off well and we believe that we can do more. And that’s why this sort of engagement is very important”.

Tetracore is a one-stop shop integrated energy solutions provider with a robust and increasing gas and power delivery portfolio across the energy landscape in Nigeria, providing Natural Gas and Power to various off-takers across the country.

Udoh informed that the company is committed to leading the energy transition in Nigeria and Africa as well, adding that decarbonization is a key part of Tetracore’s strategic imperatives.

He said: “We have diversified and refocused our strategy to play across the entire energy value chain from downstream, even the midstream and also the upstream as well as the renewables and Power sector of the economy. Because you can’t talk about energy without addressing the broad power issues that we have in Nigeria and Africa as a whole.

“We are very focused, and we are very determined to unlock a bit more volumes of Gas into the domestic market, and to deliver Power to the domestic market today”.

Udoh said as a company, clean energy is key for Tetracore, adding that the company currently supplies gas to many companies, thus assisting to reduce their carbon footprint.

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

1 week ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

1 week ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

2 weeks ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi